ZURICH (Reuters) – Swiss private bank Union Bancaire Privée “This transaction confirms our ambition to increase our footprint in Luxembourg, which became UBP’s European hub a few years ago,” Chief Executive Guy de Picciotto said in a statement. Following the transaction, UBP’s managed assets in Luxembourg will reach around 33 billion Swiss francs ($35.63 billion), it said. The transaction is expected to be completed in the fourth quarter pending regulatory approval, UBP said. ($1 = 0.9261 Swiss francs)
(Reporting by Brenna Hughes Neghaiwi)
